All results are net of non-controlling interest, and reported in Canadian dollars.

2

The year ended December 31, 2017 excludes $39.0 million ($28.7 million after tax) in provisions for compensation, legal and tax costs, a $45 million provision for the settlement of outstanding notices of reassessment received for the years 2006 to 2008, and $5.6 million related to a fair value adjustment to contingent consideration. The quarter ended December 31, 2017 excludes $39.0 million ($28.7 million after tax) in provisions for compensation, legal and tax costs and $5.6 million related to a fair value adjustment to contingent consideration. The year ended December 31, 2016 excludes $39.6 million ($29.1 million after tax) in provisions for compensation, legal and tax costs. The quarter ended December 31, 2016 excludes $26.6 million ($19.6 million after tax) in provisions for compensation, legal and tax costs.

3

Adjusted net income, adjusted earnings per share, EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted EBITDA, free cash flow and net debt are not standardized measures prescribed by IFRS; however, CI believes that these financial measures provide information that is useful to investors in understanding CI's performance and facilitate a comparison of quarterly and full-year results from period to period. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in Management's Discussion and Analysis available at www.cifinancial.com.

4

As a percentage of average assets under management.

5

Trailing 12 months, calculated using adjusted net income, a non-IFRS measure. A reconciliation to IFRS is included in Management's Discussion and Analysis.

CI reported earnings per share of $0.47 for the fourth quarter of 2017, compared to $0.45 for the same quarter of 2016. Both quarters included provisions for compensation, legal and tax costs, and the fourth quarter of 2017 included a fair value adjustment to contingent consideration. Excluding these items, earnings per share in the fourth quarter of 2017 were $0.59, up 11% from $0.53 for the same quarter of 2016 and up 7% from $0.55 for the third quarter of 2017. For the year, adjusted earnings per share were $2.19, up 12% from $1.96 for the prior year.

"2017 was a solid year for CI, with strong growth in key metrics including a 12% increase in adjusted earnings per share and 7% gain in free cash flow," said Peter W. Anderson, CI Chief Executive Officer. "During the year, we made two important strategic acquisitions, Sentry Investments and BBS Securities, and we continue to strengthen our existing asset management and advisory businesses. In a challenging environment that includes increased market volatility, we remain focused on executing our long-term strategy to grow our business."

Average assets under management reached $126.3 billion for 2017, an increase of 14% from 2016. Fourth quarter average assets were up 24% year over year primarily due to strong market performance and the acquisition of Sentry Investments Corp. ("Sentry") on October 2, 2017. At December 31, 2017, CI's assets under management were $143.0 billion, up $25.1 billion or 21% from $117.9 billion at December 31, 2016.

CI's Canadian business, excluding products closed to new investors, had net sales for the year of $341 million. CI's International retail business (GSFM) had a very strong 2017 with $468 million in net sales. In total, CI had $1.5 billion in net redemptions for 2017, primarily due to $1.2 billion in net redemptions from business closed to new investors.

For the quarter ended December 31, 2017, CI's Canadian business, excluding products closed to new investors, had $938 million in net redemptions, due to net outflows from Sentry's funds. While these redemptions were anticipated, CI has been implementing strategies to improve sales. In total, CI had $1.4 billion in net redemptions for the fourth quarter of 2017.

Selling, general and administrative (SG&A) expenses for the fourth quarter of 2017 were $130.8 million compared to $102.4 million in the same quarter of 2016. The increase in SG&A was primarily due to the addition of Sentry, BBS Securities Inc. and Grant Samuel Funds Management ("GSFM") for a full quarter (GSFM was acquired on November 15, 2016).

CI generated $648.4 million in free cash flow during the year ended December 31, 2017, compared to $604.7 million in 2016. During the year, CI repurchased $413.2 million in shares and paid $368.0 million in dividends. As at January 31, 2018, CI had 270,119,547 shares outstanding.

The Board of Directors declared a monthly cash dividend of $0.1175 per share, payable on each of March 15, 2018, April 13, 2018 and May 15, 2018 to shareholders of record on February 28, 2018, March 31, 2018 and April 30, 2018, respectively. The monthly dividend represented a yield of 5.1% on CI's closing share price of $27.82 on February 14, 2018.

For detailed financial statements for the quarter and year ended December 31, 2017, including Management's Discussion and Analysis, which contains discussions of non-IFRS measures, please refer to CI's website at www.cifinancial.com under Financial Information, or contact investorrelations@ci.com.

Annual General Meeting of ShareholdersCI Financial Corp. ("CI") will hold its Annual General Meeting of Shareholders on June 18, 2018 in Toronto at 2:00 p.m. EDT. The meeting will be held at CI's offices, located at 15 York Street, on the second floor. In addition to the formal business of the meeting, there will be presentations by the CI executive team. The Notice of Meeting and Management Information Circular will be available at www.sedar.com and www.cifinancial.com in the News & Events section.

Analysts' Conference Call CI will hold a conference call with analysts today at 4 p.m. Eastern Time, led by Chief Executive Officer Peter Anderson and Chief Financial Officer Douglas Jamieson. The call and a slide presentation will be accessible through a webcast at www.ci.com/q4. Alternatively, investors may listen to the discussion by dialling: (416) 406-0743 or 1-800-898-3989 (passcode: 3773238#).

A replay of the call will be available until March 1, 2018 at 11:59 p.m. at (905) 694-9451 or 1-800-408-3053 (passcode: 2377248#). The webcast will be archived at www.ci.com/q4.

This press release contains forward-looking statements with respect to CI and its products and services, including its business operations and strategy and financial performance and condition. Although management believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.